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MARKET PRACTICE BOOK 18 1.2.2.2.2. Documentation flow for issuance under Programme at acceptance a Issuer Issuer b Legal Counsel c Dealer/ LM IPA d a * LM for syndicated MTN’s a a Dealer/LM* b LLegal l Counsel Initiator Recipient Timing Dealer/LM Legal Counsel/ IPA Dealer/ LM/IPA IPA ICSDs At the Issuer’s discretion c b In the very early stage of issuance or before the fixing of pricing details (generally on the Closing Date -5 Business Days), and prior to the listing request if any In the very early stage of issuance or before the fixing of pricing details (generally on the Closing Date -5 Business Days), and prior to the listing request 19 if any As soon as advised by the Dealer/LM IPA d Actions ICSD SD •Appoint LM (for Syndicated Issues) •Agree key terms of the issue •Drafting of the terms in an easily analysable and comprehensible manner and wherever possible, using standard terms and formats to allow easy identification and understanding of all relevant securities features •Draft and review all relevant legal documentation, including the minimum requirements (cf. CP/CD/MTNs acceptance checklist) for ISIN and/or Common Code allocation •Drafting of the terms in an easily analysable and comprehensible manner and wherever possible, using standard terms and formats to allow easy identification and understanding of all relevant securities features •Highlight any special features of the security (e.g. complex tax regimes, securities in units, etc, …) (cf. ‘Eligibility / Non-standard Structures’ list in Annex 4) •Highlight any special features of the security (e.g. complex tax regimes, securities in units, etc, …) (cf. ‘Eligibility / Non-standard Structures’ list in Annex 4) 19 Please refer to the respective Stock Exchange listing rules for the relevant timing requirements.
c Dealer/ LM d IPA d IPA d ICSDs c IPA d IPA d IPA Initiator Recipient Timing IPA ICSDs ICSDs IPA Dealer/LM/ any other interested parties ICSDs ICSDs At the code allocation request, or immediately after the fixing of pricing details (generally on the Closing Date -5 Business Days) and prior to the listing request if any At the code allocation request, or immediately after the fixing of pricing details (generally on the Closing Date -5 Business Days) and prior to the listing request if any At the code allocation request, or immediately after the fixing of pricing details (generally on the Closing Date -5 Business Days) and prior to the listing request if any On acceptance Within 1 working day (24 hours) of receipt 22 On acceptance On the Closing Date -1 Business Day On occurrence and before closing Actions MARKET PRACTICE BOOK •Instruct the IPA to obtain ISIN and/or Common Code for the security •Request ISIN and/or Common Code based on the corresponding Programme number and the minimum requirements (cf. CP/CD/MTNs acceptance checklist) to set up a code, specifying the CGN or NGN form (by phone, e-mail or via EPIM 20 ) •For non-standard structures and securities in units: provide draft Final Terms 21 •Provide ISIN and/or Common Code 23 •For NGNs, appoint CSK and advise IPA •Relay ISIN, Common Code, Common Depository (or CSP & CSK) information •Provide details of all issues closing the next day via a basic confirmation 24 for ICSDs to validate data 20 Besides the ECP and ECD, the allocation of codes is also possible for MTNs via EPIM. •Highlight pre-closing security features updates, if any, together with the last version of the draft document 25 21 If no draft Final Terms is available, the complete draft term sheet should be sent. For efficiency purposes, the number of draft versions sent should be limited (unless a change of structure is taking place) and focus on the last version of the draft Final Terms (or term sheet). 22 Dependent on any eligibility issues that may arise that requires further clarification from the IPA and on the communication mean used e.g. STP via EPIM, Codes allocated immediately. 23 See footnote 8. 24 Further to the MMI’s committee, this step needs to be continued as long as all issues are not created/updated through EPIM. This is the only way to ensure accurate issuance details are provided prior to the issue date. 25 For efficiency purposes, the number of draft versions sent should be limited (unless a structure change is taking place) and focus on the last version of the draft Final Terms to be received in time to ensure eligibility. 19
Page 1 and 2: December 2008 International Securit
Page 3 and 4: Table of contents MARKET PRACTICE B
Page 5 and 6: Legal disclaimer Timing convention
Page 7 and 8: (CA Agent) Drawdown Dealer Dealer M
Page 9 and 10: Programme Programme Identification
Page 11 and 12: 1. New issues 1.1. 1.2. 1.2.1. 1.2.
Page 13 and 14: 1.2.1.3. MARKET PRACTICE BOOK for i
Page 15 and 16: LM b LM b LM e PPA b ICSDs c ICSDs
Page 17: c IPA c IPA c ICSDs c IPA c IPA Ini
Page 21 and 22: 1.2.3.2. Documentation flow for Sta
Page 23 and 24: 1.2.3.3.2. Documentation flow for P
Page 25 and 26: MARKET PRACTICE BOOK 1.2.3.3.4. Doc
Page 27 and 28: 2. Corporate actions 2.1. Scope MAR
Page 29 and 30: 2.2.1.3. MARKET PRACTICE BOOK To be
Page 31 and 32: MARKET PRACTICE BOOK 2.2.2.2. Infor
Page 33 and 34: Pre event launch - Confidential inf
Page 35 and 36: Annexes Annex 1: ISMAG - Terms of R
Page 37 and 38: The ISMAG is part of a more global
Page 39 and 40: 2. Provision of prospectus and othe
Page 41 and 42: Annex 4 Non-standard unusual struct
Page 43 and 44: Free transferability Disclosure Fun
Page 45 and 46: NOTES MARKET PRACTICE BOOK
Page 47 and 48: NOTES MARKET PRACTICE BOOK 47

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